Vera Bradley (NASDAQ:VRA) Releases FY 2023 Earnings Guidance

Vera Bradley (NASDAQ:VRAGet Rating) issued an update on its FY 2023 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.35-$0.50 for the period, compared to the consensus estimate of $0.61. The company issued revenue guidance of $490.00 million-$505.00 million, compared to the consensus revenue estimate of $564.96 million.

Several equities analysts have weighed in on the stock. Telsey Advisory Group decreased their target price on shares of Vera Bradley from $9.00 to $7.00 and set a market perform rating on the stock in a report on Thursday, June 9th. StockNews.com upgraded shares of Vera Bradley from a hold rating to a buy rating in a report on Thursday, June 9th.

Shares of VRA opened at $4.84 on Wednesday. Vera Bradley has a fifty-two week low of $4.65 and a fifty-two week high of $12.74. The firm’s 50 day moving average price is $6.37 and its 200 day moving average price is $7.51. The company has a market cap of $152.26 million, a P/E ratio of 13.08 and a beta of 1.78.

Vera Bradley (NASDAQ:VRAGet Rating) last announced its earnings results on Wednesday, June 8th. The textile maker reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.03). Vera Bradley had a return on equity of 4.74% and a net margin of 2.46%. The business had revenue of $98.50 million for the quarter, compared to analysts’ expectations of $109.87 million. During the same period in the previous year, the company earned ($0.05) earnings per share. Vera Bradley’s quarterly revenue was down 9.7% on a year-over-year basis. As a group, research analysts predict that Vera Bradley will post 0.41 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. D. E. Shaw & Co. Inc. boosted its holdings in shares of Vera Bradley by 294.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 244,427 shares of the textile maker’s stock valued at $2,080,000 after buying an additional 182,510 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Vera Bradley by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 1,774,779 shares of the textile maker’s stock valued at $13,613,000 after buying an additional 137,181 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Vera Bradley by 39.9% in the 4th quarter. Invesco Ltd. now owns 478,938 shares of the textile maker’s stock valued at $4,076,000 after buying an additional 136,610 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Vera Bradley by 3.2% in the 4th quarter. BlackRock Inc. now owns 4,430,910 shares of the textile maker’s stock valued at $37,708,000 after buying an additional 135,786 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Vera Bradley by 96.0% in the 2nd quarter. Morgan Stanley now owns 243,389 shares of the textile maker’s stock valued at $3,016,000 after buying an additional 119,189 shares in the last quarter. Institutional investors own 70.79% of the company’s stock.

About Vera Bradley (Get Rating)

Vera Bradley, Inc, together with its subsidiaries, designs, manufactures, and sells women's handbags, luggage and travel items, fashion and home accessories, and gifts. It operates through three segments: Vera Bradley Direct, Vera Bradley Indirect, and Pura Vida. The company offers bag products, such as totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags; accessories, including wallets, wristlets, eyeglass cases, scarves, and various technology accessories; bracelets, rings, and necklaces under Pura Vida brand name; and travel products consisting of rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.

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Earnings History and Estimates for Vera Bradley (NASDAQ:VRA)

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